Yahoo! looking to go on a buying spree this year

By on March 29, 2011
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Not acquisitive? You are strategically less relevant.

If you own a successful running tech company in the US, you might want to be vary of Yahoo! this year. The company has announced that its “gearing up for a very big year” and will be breaking the bank to swallow as many companies as it can. After all, they have to match Google’s 48 acquisitions last year.

“If you’re not acquisitive, you’re strategically less relevant in the future,” said Steven Mitzenmacher, Senior Director of Corporate Development, at the Global Technology Symposium at Menlo Park, which also had similar-title guys from Google and LinkedIN.

Mitzenmacher also pulled out the punches at Google, taking a dig at the the search giant’s YouTube purchase of $1.6 billion, saying the price was “still crazy”. Sitting right next to him, Neeraj Arora of Google, immediately got on the case, saying YouTube “has paid itself back.”

Not the one to be proven otherwise, Mitzenmacher pulled out his phone and read out a news story which had Goolge CEO Eric Schmidt saying the site wasn’t yet profitable.

However, LinkedIN chief Robby Kwok backed Arora, calling YouTube’s purchase a “great deal”, and “you can’t deny they’ve done a really good job with it.” And they have actually: after the acquisition, YouTube climbed Alexa rankings to no. 3 worldwide and would make an estimated net revenue of $900 million this year.


About

Mufaddal Fakhruddin is the Editor for IGN ME and thinks writing in third person about himself in an about me section is weird.

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